The central bank of Azerbaijan left the key discount rate unchanged at a three-year high of 7.75% on June 17th 2022, as the bank sees inflation to lower by the end of this year, as strong nominal effective exchange rates more than offset rise in imported inflation. Policymakers also noted inflation to return to its target range in the medium term and the current account surplus to grow sharply by end of 2022 with rising export prices, particularly of natural gas. Further, economic activity in the country beats expectations and the levels of employment are also rising. source: Central Bank of the Republic of Azerbaijan

Interest Rate in Azerbaijan averaged 6.87 percent from 2005 until 2022, reaching an all time high of 15 percent in September of 2016 and a record low of 2 percent in December of 2009. This page provides the latest reported value for - Azerbaijan Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Azerbaijan Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.

Interest Rate in Azerbaijan is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Azerbaijan Interest Rate is projected to trend around 5.00 percent in 2023 and 4.00 percent in 2024, according to our econometric models.

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Azerbaijan Interest Rate



Related Last Previous Unit Reference
Interest Rate 7.75 7.75 percent Jun 2022
Money Supply M0 10835.50 10525.20 AZN Million Apr 2022
Money Supply M2 24215.00 23597.10 AZN Million Apr 2022
Money Supply M3 34910.50 33884.10 AZN Million Mar 2022
Foreign Exchange Reserves 7136.50 7158.00 USD Million Mar 2022
Money Supply M1 20249.70 19632.10 AZN Million Mar 2022

Azerbaijan Interest Rate
In Azerbaijan, interest rate decisions are taken by the Central Bank of Azerbaijan. The official interest rate is the Refinancing Rate.
Actual Previous Highest Lowest Dates Unit Frequency
7.75 7.75 15.00 2.00 2005 - 2022 percent Daily

News Stream
Azerbaijan Holds Policy Interest Rate at 7.75%
The central bank of Azerbaijan left the key discount rate unchanged at a three-year high of 7.75% on June 17th 2022, as the bank sees inflation to lower by the end of this year, as strong nominal effective exchange rates more than offset rise in imported inflation. Policymakers also expect inflation to return to its target range in the medium term and the current account surplus to grow sharply by end of 2022 with rising export prices, particularly of natural gas. Further, economic activity in the country beats expectations and the levels of employment are also rising.
2022-06-17
Azerbaijan Hikes Borrowing Costs
The central bank of Azerbaijan raised its refinancing rate by 0.25 percentage points to 7.75% on March 18th 2022, pushing borrowing costs to the highest since late 2019. The central bank also changed its rate corridor, raising the lower boundary to 6.25% from 6% and the upper boundary to 9.25% from 9%. Policymakers noted that although the country's annual inflation rate has declined, fundamental changes in the geopolitical environment have significantly increased uncertainty about the external background of inflation.
2022-03-18
Azerbaijan Hikes Interest Rate to 7.5%
The Central Bank of Azerbaijan raised its official discount rate by 25 basis points to 7.5% on January 28th 2022, citing an intensification of inflationary pressures in the global economy, namely in prices of food, raw materials, transportation and logistics. The 12-month inflation rate in Azerbaijan climbed to a four-year high of 6.7% in December, moving further away from the upper limit of the central bank target range of 2% to 6%. Governor Rustamov said that annual inflation is expected to be higher than the target range at around 6.6-7.5% in 2022, but it should return to the target in 2023.
2022-01-28